JCPENNY CLD'd me 90% of Credit Limit!!!

JCPENNY CLD'd me 90% of Credit Limit!!!

Oh Man, I just received a letter from GE Money/JCpenney stating that they have decided to lower my CL. The funny thing about this is that I just paid the Card off!!! So pretty much they let me pay a lot of money to them just to cut the limit to almost nothing...I will be calling them tomorrow and see what I can have them do to restore the limit.

Re: JCPENNY CLD'd me 90% of Credit Limit!!!

The sad thing is that I knew this might happen because one of my TLs from the past just updated there files incorrectly and put 8 lates in 08 and 07 on my report when it was closed in 06! I just verified with GE money that that was why they killed my credit limit. I have contacted the creditor and they are going to correct it but now I have to sit tight and hopew that no other creditors do the same thing.

Re: JCPENNY CLD'd me 90% of Credit Limit!!!

Sorry to hear this happened to you, volly.

There have been tons of posts on other forums about the aggressive AA being taken by GEMB against holders of their cards (e.g. Care Credit, JCP, Lowes, Paypal, Walmart, Sam's Club, etc). According to speculation/rumor, the prime targets for AA are those who either (1) haven't used the card in a long time; and (2) those who have recent blemishes on their reports.

If any posters fall into either or both of those categories, you might want to check any GEMB cards that you have. (Some whose accounts were closed for inactivity only have reported success having them reopened.)

Re: JCPENNY CLD'd me 90% of Credit Limit!!!

Don't forget, lurknomore, that another of these prime targets are those who carry balances for a certain amount of time. I've seen AA on people who've carried a balance for three months.

lurknomore wrote:

Sorry to hear this happened to you, volly.

There have been tons of posts on other forums about the aggressive AA being taken by GEMB against holders of their cards (e.g. Care Credit, JCP, Lowes, Paypal, Walmart, Sam's Club, etc). According to speculation/rumor, the prime targets for AA are those who either (1) haven't used the card in a long time; and (2) those who have recent blemishes on their reports.

If any posters fall into either or both of those categories, you might want to check any GEMB cards that you have. (Some whose accounts were closed for inactivity only have reported success having them reopened.)

Re: JCPENNY CLD'd me 90% of Credit Limit!!!

lurknomore wrote:

Sorry to hear this happened to you, volly.

There have been tons of posts on other forums about the aggressive AA being taken by GEMB against holders of their cards (e.g. Care Credit, JCP, Lowes, Paypal, Walmart, Sam's Club, etc). According to speculation/rumor, the prime targets for AA are those who either (1) haven't used the card in a long time; and (2) those who have recent blemishes on their reports.

If any posters fall into either or both of those categories, you might want to check any GEMB cards that you have. (Some whose accounts were closed for inactivity only have reported success having them reopened.)

Question to reason #1: Is having a balance on a card and not using it but "paying it off" considered activity regardless? I mean, would they take AA for that? Anyone know?

Re: JCPENNY CLD'd me 90% of Credit Limit!!!

USC08, I wouldn't classify that as activity. Some CCCs may still take AA even if there is no card usage but a balance is being carried. This isn't the rule for all CCCs, but nowadays too many are suffering from AA simply because they are carrying balances (even while paying more than minimum amount and paying on time).

Re: JCPENNY CLD'd me 90% of Credit Limit!!!

I just got off the phone with JCpenneys and had to escalate to the managers and above and they want to pull a hard inq. I told them under no circumstance do I want that. I informed them that they soft pull all the time on me to CLI over the years on this account and I want that to happen. I informed them of the fact that I just paid off the card and that I use this card heavy over christmas...Not really but it might help...The manager told me that she will contact me on Monday and let me know what they can do for me. Hopefully they will give it back, they were very nice and appreciated the fact that I have corected the error and was proactive to this change.

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IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.